A bank loaned out $18,000, part of it at the rate of 9% per year and the rest at 19% per year. If the interest received in one
1 answer:
You might be interested in
A) Ms.Wright receive $12 as interest at the end of 1/2 year.
B) Ms.Wright receive $24 as interest at the end of 1 year.
Step-by-step explanation:
The sum deposited in the bank = Principle = $800
The rate of simple interest = 3%
The time = 6 months = (6/12) years = 0.5 years
So, here simple interest = $12.
So Ms.Wright receive $12 as interest at the end of 1/2 year.
B) Now here Time = 1 year
so, Simple interest =
So Ms.Wright receive $24 as interest at the end of 1 year.